Proto Labs Inc (PRLB)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 221,993 | 215,465 | 222,691 | 217,827 | 235,290 |
| Revenue | US$ in thousands | 499,414 | 489,514 | 487,522 | 434,393 | 458,728 |
| Gross profit margin | 44.45% | 44.02% | 45.68% | 50.15% | 51.29% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $221,993K ÷ $499,414K
= 44.45%
Proto Labs Inc's gross profit margin has experienced a declining trend over the past five years, starting at 51.29% in 2019 and decreasing to 44.06% in 2023. This indicates a reduction in the percentage of revenue retained as gross profit after deducting the cost of goods sold. The declining trend may suggest various factors such as changes in pricing strategies, cost structures, or competitive pressures impacting the company's ability to maintain higher margins. Further analysis into the drivers behind this trend would be necessary to understand the implications for Proto Labs Inc's profitability and overall financial performance.
Peer comparison
Dec 31, 2023